Forum Archive Index - January 2004

["Russell" <allanrussell90@hotmail.com>]

Hi Macdunk

Ray Smith and gold corp I believe are the gold fraudsters you are alluding to, yes I understand your point of view, but the 1987 share market crash did not put you off shares?

With Mr Smith and his gold corp, he had a deal where he sold you gold, and would store it for you for a fee and also you could have it insured for a fee, and he sold the same gold over and over, with the reasoning that a bank only needs 20% of funds liquid he only needed 20% of the gold he had sold.

The matter went to court Mr Smith was largly cleared of wrong doing, I disagreed with that conclusion.

People were defrauded in my view, but that fraud should not put you off gold as such, to misquote the gun lobby "people defraud people, not gold"

And yes I understand now where you were comeing from with your question I have only been involved with share chat since june, so were not up to speed with the history of the question.

All the best

Allan

 

----- Original Message -----

From: Duncan MacGregor

To: sharechat

Sent: Wednesday, January 07, 2004 11:16 AM

Subject: [sharechat] reply to allan russell re gold question by macdunk

Hi Allan.
             The reason I asked Lazy Haggis the question was, firstly he was the one that told us to buy gold this time last year.
The other more to the point reason Is, he Is smart enough to give honest answers without point scoring.
I was going over my list of shares In my portfolio at the start of 2003, and asking the question of myself, with hindesight what I did right and what I did wrong.           I did tell lazy haggis he was wrong at the time, so It was only fair to direct the question at him.
I wanted to compare and hopefully learn something new.   
I did keep the question basic so lets be having you haggis you were wrong with sky city.
I very nearly bought gold In the eighties, which put me off for life, remember the one In NZ when they opened the vault nothing was there.   I bought a house section on spec otherwise I was one of them.      The reason I gave the first and last trading days of the year Is simple, every trade has a start and finish, and cost to undertake therefore to leave one out, makes an answer absolute rubbish..
                           cheers macdunk